An Employee Earns $5,500 Per Month Working for an Employer

question 84

Multiple Choice

An employee earns $5,500 per month working for an employer. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 4.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $182 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $150 and contributes $75 to a retirement plan each month. What is the amount of net pay for the employee for the month of January?

• A)$4,827.00
• B)$4,672.25
• C)$4,628.25
• D)$4,386.25
• E)$4,430.

---

Definitions:

Panda Principle

A concept referring to the evolutionary principle that organisms adapt through a series of compromises and trade-offs, rather than through the development of optimal features.

Sensory Systems

Complex networks of organs and structures that allow organisms to perceive and respond to their surroundings, including sight, sound, touch, taste, and smell.

Nuptial Gift

A resource provided by one member of a species (often the male) to a mating partner (often the female) as part of courtship or copulation, which can range from food to items that enhance the recipient's survival or reproductive success.

Sensory Exploitation

A theory suggesting that certain mating preferences arise because they exploit pre-existing sensory biases or preferences in the opposite sex.